> However does anyone here really believe someone making $40 or $50 million a year are not going to find tax shelters for their income and are going to stand paying 70 cents on the dollar in taxes.

You'd think so given how frequently the "it was once 91%!" phrase comes up. Regardless of tax rates, the amount of GDP gathered from taxation revenue has been pretty stable: https://en.wikipedia.org/wiki/Hauser%27s_law